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12 December 2022 | Story Kekeletso Takang | Photo Supplied
Through the New Venture Creation Programme, the UFS Business School aims to equip unemployed youth with the skills needed to identify and assess entrepreneurial opportunities, design a basic business model, and write a business plan.

The University of the Free State Business School (UFSBS) recently hosted a New Venture Creation programme aimed at mitigating unemployment among the youth. Through this programme, the UFSBS aims to equip unemployed youth with the skills needed to identify and assess entrepreneurial opportunities, design a basic business model, and write a business plan. 

The unemployment rate in South Africa was 33,9% in the second quarter of 2022, with youth remaining particularly vulnerable in the labour market. The New Venture Creation programme, funded by the Education, Training and Development Practices Sector Education and Training Authority (ETDPSETA), provides the opportunity for 100 unemployed youth in the Northern Cape and 100 unemployed youth in the North West to be part of the programme. 

In addition to the UFSBS, the ETDPSETA has also partnered with the Office of the Premier in the Northern Cape, the Sol Plaatje Municipality, and the Department of Social Development. These partners assisted with the identification and recruitment of participants in order to ensure the right people were included in the programme.

“For me, the programme was informative and practical,” said Paseka Tlali, one of the top achievers taking part in the New Venture Creation programme. “It allowed me to learn about developing a business plan. Since completion, I have registered a business focusing on media consultancy. Through my business I can educate others on the importance of developing a personal brand.” 

David Gool, another participant from the Northern Cape, said, “I have now become a social media ambassador working with Herbalife as their brand ambassador, thanks to the programme.”

Participants were taken on a practical journey to identify an idea and turn it into a profitable small business. Not only were they taught about new venture creation, but they were also taken on a journey to understand themselves better. The four-month programme saw participants go from attending classes to presenting their business plans to a panel that was also referred to as “The Circle of Elders”. This panel consisted of the ETDPSETA, the UFSBS, the National Youth Development Agency (NYDA) and the Small Enterprise Development Agency (SEDA). They provided each participant with practical feedback and guidance on how to make their planned venture a reality. 

The New Venture Creation programme includes the following study units: Entrepreneurship Journey, Marketing Plan, Operations Plan, Business Model, and Business Plan Framework, among others. 

Graduation ceremonies were held at the completion of the programme in De Aar and Kimberley, sponsored by Standard Bank.

Read up on more programmes offered by the UFS Business School here

News Archive

Arment-My-Nie proved what a time it is to be alive at the 2016 Stagedoor
2016-03-15

Description: 2016 03 KL Stagedoor Tags: Stagedoor

2016 has been nothing short of events that have left students singing the phrase, “What A Time To Be Alive!” This year’s Stagedoor theme had first-year groups re-enacting some of the most memorable times of 2016 and even far into the future.

On 12 March 2016, the show continued with the newly adopted format which was initiated last year, whereby residences are coupled together. With all teams being entered into the finals round, this can be seen as a victory for all, as the crowds of students and parents had the opportunity to see all pairs perform.

Kovsie Church, on the Bloemfontein Campus of the University of the Free State, was packed wall-to-wall with fans and supporters who were high in anticipation of the never-seen-before performances. This resulted in even more excitement for audiences and a tight competition for the residences.

With the theme already set out, the show began to roll, and audiences were enticed with each performance. Audiences experienced the tongue-in-cheek wit of performers, as many scripts had underlying references which left viewers roaring with laughter.

Only three groups could, however, walk away with the top spots. Karee and Arista were third, with Sonnedou and Villa Bravado coming out second, and the trophy was taken by Armentum and Vergeet-My-Nie.

This year, the Arts and Culture office of the Student Representative Council introduced additional categories to the competition. The winners were:

  • McDonalds Jingle – Legatum and NJ van der Merwe

  • Best Actor – Bernie Neser

  • Best Actress – Maynie Knoetze

  • Best Incorporated Theme – Legatum and NJ van der Merwe

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